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Business 90 – 90 Day Notice Deposit

This account is suitable for companies who are looking for a safe place for their money and are happy to give 90 days’ notice in order to withdraw from the account.

This account is not suitable for personal savings. The account is also not suitable for companies who are unable to maintain a balance of £1,000, or who require instant access to their money.

4.05% Gross /AER
Postcode Restricted
Yes subject to 90 days' notice
Minimum Investment

About this account

What is the interest rate?

This account offers a variable rate of interest as follows:

Minimum Balance ANNUAL Gross* INTEREST AER**
£1,000 4.05% 4.05%

Interest is paid annually on the 1 December.

Can Hinckley & Rugby Building Society change the interest rate?

We may change interest rates at any time if we reasonably believe that the change is needed, for any of the reasons outlined in the Savings Account Terms and Conditions booklet, Condition 7.

What would the estimated balance be after 12 months based on a £1,000 deposit?

Based on an initial deposit of £1,000.00, after a 12 month period the estimated balance would be £1,040.50.

These figures are provided for illustrative purposes only and assume that no further deposits or withdrawals are made and there is no change in interest rate. They do not take into account individual circumstances.

How do I open and manage my account?

Available to UK registered Private Limited Companies, Sole Traders and Partnerships.

This account can be opened and managed by post or at any of our branches and agencies. You can also manage your account by telephone. Complete the application form and the declarations and consents. Take the completed documents, your deposit and the required identification to one of our branches or agencies, or post them to us at the address in this document.

At least one Director must be a signatory, with a maximum of four signatories to the account. For partnerships, all Partners must be signatories to the account. You will be given a passbook to help you keep a record of your transactions.

The minimum deposit required to open and maintain this account is £1,000 and the maximum deposit is £500,000. The opening deposit must be by a cheque drawn on the company’s bank account and payable to your company name, or by electronic funds transfer from the company’s bank account. Cash deposits are not allowed to be paid into the account.

Please note, the minimum deposit must be credited to your account within 5 working days of the account being opened. If you fail to do so, you will be required to restart the application process.

Further Deposits

You may pay in cheques at any of the Society’s branches or by post. Deposits can also be made by electronic funds transfer. To make an electronic funds transfer use sort code 40-05-30 and our account number 74575938 and quote your Business 90 account number (all 11 digits), which must be used in the roll or reference number field. Where the deposit is made by post, the passbook will be returned to your business address.

Contact our Business Account Helpline on 01455 894060 if you require any assistance. Opening hours are 9am to 5pm, Monday to Friday (closed on Bank Holidays).

Can I withdraw money?

Withdrawals can only be made by electronic funds transfer and will only be sent to the company’s nominated bank account from which the funds to open the account were drawn.

Withdrawals can be made subject to a 90 day notice period. Withdrawals must be made within 14 days of the notice period becoming effective. Instant withdrawals outside of the notice period will not be allowed. The total amount on notice (including all pending notice) must not be more than the balance of the account.

You can give notice by telephoning the Business Account Helpline on 01455 894060, at a branch or in writing.

When the notice becomes effective, withdrawals up to and including £250,000 will be processed on the first business day, and credited in your bank account the same business day. No charge will be made for this service.

For withdrawals over £250,000 – These funds are sent by telegraphic transfer (CHAPs), there is a charge for this service (please refer to the current tariff of charges in the Interest Rates for Savers leaflet or on the Society’s website hrbs.co.uk/important-account-information/).

Subject to the conditions above, money can be paid out against a cheque from the start of the sixth business day following the day of deposit. Business day means a day other than a Saturday, Sunday or Bank Holiday.

Additional information

Interest is paid gross without tax deducted.

* Gross rate – the annual rate of interest payable without any deduction of tax.

** AER – stands for Annual Equivalent Rate and illustrates what the interest rate would be if interest was paid and added once a year.

Identification Requirements

We need to confirm the identity of the company and each signatory in order to protect you against fraud and to comply with legislation.

You are required to provide the following documentation to open a Business Deposit Account:

We need to confirm the identity of each authorised signatory operating the account.

  • We use an electronic verification system when opening an account. If this is successful, you will not need to do anything. However, in certain cases you will be asked to provide additional proof of identity (for example if you are not listed on the electoral roll or you
    have recently moved house).

If you are required to provide additional identification, you must supply two items acceptable to the Society to verify your name and address. The Society will be unable to open your account until we have completed identification procedures.

If you think you will need to provide identification, please visit hrbs.co.uk/proving-your-identity/ for details of acceptable documentation or contact the Society’s Business Account Helpline 01455 894060.

For Limited Companies

  • A Board Resolution on company headed paper authorising named signatories to open the account.
  • A list of all the Directors and any senior persons responsible for its operations, including names, titles, addresses, dates of birth and nationalities.
  • Name of any persons of significant control, including those who own or control over 25% of the company shares or voting rights, or who otherwise exercise control over the management of the company, or significant influence or control over the company. We need to confirm the identity of any individuals listed who are not authorised signatories on the account and will do this using electronic verification if authorisation is provided on the application form.
  • We will verify the identity of the company with a search at Companies House.

For Sole Traders

  • Bank statement in the business name or ‘trading as’ – dated within the last 3 months
  • Letterhead, invoice, or business card if available

For Partnerships

  • Partnership agreement or articles
  • Bank statement in the business name – dated within the last 3 months

We reserve the right to request further documentation during the life of the account should we require this to meet our legal obligations.

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Applying for an account

Complete the form below to request an application form which you can download and print.

Savings Application Form – Deposit
e.g. Mr/Mrs/Ms
e.g. Joe
e.g. Smith
e.g. example@example.com
e.g. 07123456789
Documentation and terms confirmation

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